As per OECD, it is defined as-“The knowledge, skills, competencies a

1.	As per OECD, it is defined as-“The knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances"It is essential for the development of an economy.It is called as........................?1. Social Capital2. Human Capital3. Physical Capital4. Human Development
Answer» Correct Answer - Option 2 : Human Capital The correct answer is Human Capital. As per OECD, Human capital is defined as- “the knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances”. Human capital formation is considered as outcomes of investment in- education health skill migration The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. Trained and educated on sound lines". Physical capital and Human capital Physical capital is related to non-human assets in the production process. for example- buildings, infrastructure etc. It is further categorized into two categories. Working capital Fixed capital Human Capital refers to the stock of skill, ability, expertise, education and knowledge in a nation at a point of time. India ranked 116th in the Human Capital Index, 2020. It is launched by the World Bank. Singapore topped this index with a score of 0.88. World Bank headquarters are located at Washington, USA.

As per OECD, it is defined as-“The knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances"It is essential for the development of an economy.It is called as........................?1. Social Capital2. Human Capital3. Physical Capital4. Human Development

Answer» Correct Answer - Option 2 : Human Capital

The correct answer is Human Capital.

As per OECD, Human capital is defined as-
- “the knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances”.
Human capital formation is considered as outcomes of investment in-
- education
- health
- skill
- migration
The Seventh Five Year Plan says, “Human resources development (read human capital) has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population. Trained and educated on sound lines".

Physical capital and Human capital

Physical capital is related to non-human assets in the production process. for example- buildings, infrastructure etc. It is further categorized into two categories.
- Working capital
- Fixed capital
Human Capital refers to the stock of skill, ability, expertise, education and knowledge in a nation at a point of time.

India ranked 116th in the Human Capital Index, 2020. It is launched by the World Bank.
Singapore topped this index with a score of 0.88.
World Bank headquarters are located at Washington, USA.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment